Bitcoin has breached the $16,000 mark, extending the digital currency’s record-breaking surge.

The cryptocurrency began the year below $1,000 but continues to rise despite warnings of a dangerous bubble.

According to Coindesk.com, Bitcoin reached $16,663.18 (£12, 358.35), having soared over 50% in a week.

The new high comes days before the launch of Bitcoin futures on two exchanges, including the world’s largest futures exchange, CME.

Spread betting firm CMC Markets said the rise had all the symptoms of a bubble market, warning “there is no way to know when the bubble will burst”.

Read more: BBC